Standard Chartered slashes CEO and CFO pay in wake of revolt November 8, 2019 Standard Chartered said today that it has slashed the pension payouts to its two top bosses, bowing to shareholder demands in the wake of a major investor rebellion. Chief executive Bill Winters and chief financial officer Andy Halford will see their retirement allowance dropped from 20 per cent of their annual salary to 10 per [...]
US stock markets rise as Beijing and Washington agree to scrap some tariffs November 7, 2019 US stock markets have opened higher after China said it had agreed with the US to cancel tariffs in phases, signalling a thawing of the frosty trade relations between the world’s two biggest economies. Read more: European markets rise on US-China trade war hopes The tech-heavy Nasdaq rose by 0.7 per cent shortly after opening, [...]
London house prices: How London boroughs’ house prices have changed since the last election November 7, 2019 Prime central London house prices have taken the biggest hit since the last general election, as previously less desirable areas gain popularity. London constituencies further away from the centre were the biggest winners between June 2017 and now as buyers sought cheaper properties. Read more: UK house price growth slows in October House prices made [...]
General Election 2019: John McDonnell pledges ‘cutting-edge fiscal rules’ November 7, 2019 A Labour government would rip-up the basis for fiscal rules, to exclude borrowing for investment from targets “so it’s recognised as both a cost and as a benefit”. Speaking from Liverpool Riverside, a seat held by former Labour MP Louise Ellman who quit last month over anti-Semitism concerns, John McDonnell told supporters a Labour government [...]
General Election 2019: Labour to shift ‘powerful section of Treasury’ to North November 7, 2019 A Labour government would shift a “powerful section of the Treasury” out of London to the north of England, John McDonnell will say today. Speaking in his home city of Liverpool, the shadow chancellor will detail plans to move the “centre of the gravity in political decision-making and investment” out of the capital. In his [...]
General Election 2019: Liberal Democrats, Green and Plaid Cymru ‘Unite to Remain’ pact for 60 seats unveiled November 7, 2019 The Liberal Democrats, Green Party and Plaid Cymru have struck a deal in which the parties will step aside for the most likely Remain candidate in 60 seats across England and Wales. Jo Swinson’s party will be given a clear run at 43 constituencies, including Bermondsey and Old Southwark, Chelsea and Fulham, Esher and Walton, [...]
RSA shares up on underwriting profit boost November 7, 2019 Shares in insurer RSA rose today after it announced underwriting profit had grown in the first nine months of the year. The FTSE 100 company said operating profit rose in the first nine months of the year, but did not publish third quarter numbers. RSA’s shares rose 3.3 per cent to 550p this morning. Read [...]
Bovis Homes agrees £1.1bn deal for Galliford Try housing business November 7, 2019 Bovis Homes has agreed to snap up Galliford Try’s housing arm for almost £1.1bn. The housebuilders have shaken hands on a deal that will see Bovis stump up £300m cash and £675m in shares to acquire Linden Homes and Galliford Try Partnerships & Regeneration. Read more: Uncertain times are leading to London property microclimates The [...]
Uber rival Bolt bolsters green credentials with environmental investment fund November 7, 2019 Ride-hailing app Bolt is set to launch a €10m environmental impact fund in a bid to boost its green credentials. Bolt, which recently committed to making all journeys taken via its app will be made carbon neutral through offsetting, said the fund would invest in initiatives that deliver “social and environmental benefits”. Read more: Uber [...]
Labour ‘parachute’ row over Cities candidate selection November 6, 2019 LABOUR’S candidate for the prized Cities of London and Westminster seat has come under fire from critics who claim the party parachuted him in, despite ongoing questions about his role in the party’s anti-Semitism scandal. Gordon Nardell QC’s candidacy was announced on Tuesday afternoon, having been selected by a panel that included figures from Labour’s [...]